That Makes It Two Times, For The SOXX

Looking at the financial press and their Sunday night-leading-to-Monday, freak-out, one would think aliens just landed like War of The Worlds. 🙂

Of course, it’s only a complete shock to those attempting to link fundamentals and financials to price movement … a never ending and futile task (not advice, not a recommendation).

With that said, let’s forget about multiples, taxes, and tariffs and look at what the market is actually telling us.

Semiconductors, SOXX, Daily

Note the ‘Decisive’ Contact point.

During last Friday’s session, price action level (monitored in real time) 220 – 224, was decisively rejected with a swift retreat and lower close for the day.

Anything can happen. However, at this point, the SOXX continues lower and (for now) appears bounded by a trading channel (not advice, not a recommendation)

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279